NCC Property Development sold the second phase of Alberga Business Park to the German company, Union Investment Real Estate GmbH.
NCC Property Development sold the second phase of Alberga Business Park for approx. 22,5 million. The buyer is the German company, Union Investment Real Estate GmbH. The sale will have a positive impact on earnings during the third quarter of 2012.
The project is expected to be completed on September 30, 2012, and the current leasing rate amounts to 65 percent. NCC is setting rental guarantees and is responsible for leasing the remaining vacant space up to the date when the project is completed, and three years thereafter.
The first phase of Alberga Business Park, which was completed in December 2011, is now fully leased and has already been sold to Union Investment Real Estate GmbH. The second phase, which is currently being sold, encompasses a total of 5,600 m² of leasable commercial space, mainly offices, as well as parking spaces for nearly 200 cars.
"It is highly gratifying that our excellent partnership has resulted in additional transactions. Union Investment Real Estate has already made investments in Alberga Business Park and Plaza Business Park in Vantaa, Finland," says Joachim Hallengren, President of NCC Property Development. "We currently have eight projects under way in Finland, thus strengthening NCC's leading position as a property developer in the Finnish market."
The third phase of Alberga Business Park is now being developed and will encompass a total of some 5,500 m² of leasable commercial space, together with nearly 200 parking spaces. In total, Alberga Business Park will encompass five phases, amounting to approximately 30,000 m² of leasable commercial space and will have capacity for nearly 2,000 workplaces and some 700 parking spaces.
Alberga Business Park is located in Espoo, in the Helsinki area. The business park has an excellent location from a transportation viewpoint, adjacent to the Ring 1 ring road and to commuter trains, and is located in close connection to one of Finland's largest shopping centers.
Alberga Business Park is being constructed with the high ambition of minimizing its environmental impact and will be environmentally classified at the Very Good level under the BREEAM international environmental certification system.